1. Comment
November 18, 2020

Londoners hit least by the second lockdown

By GlobalData Retail

Spending on non-food plummeted in the first lockdown as consumers questioned their job security and feared the recession to come. But the same has not been true of lockdown two – at least not to the same extent.

Free Whitepaper
img

What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

The visiting shops index in Globaldata’s November sentiment tracker climbed to its highest level since June (fuelled no doubt by Christmas approaching), and a greater proportion of Londoners are spending more on non-food items now compared with at any other time since March.

Figure one: Did your non-food spending increase or decrease this month? UK total and London, January to November 2020

Charts in figure one and two show non-food spend by month. The figure is calculated by taking all of those who stated they spent more and subtracting those who spent less. The more negative the number the more pressured households are.

Londoners have been more confident and willing to spend on non-food retail and on big-ticket items such as a TV or furniture than consumers in other regions. In November, the overall UK figure for household spend on non-food worsened slightly from October’s figure but London’s improved notably. Regions that have been hit with lower consumer spending than the UK average include the South of England, Scotland, Yorkshire, and East Anglia.

Figure two: Did your non-food spending increase or decrease this month? UK regions, April & November 2020

Free Whitepaper
img

What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?

While wanting to protect the country from being overwhelmed by Omicron, China’s adherence to a Zero-COVID policy is resulting in a significant economic downturn. COVID outbreaks in Shanghai, Beijing and many other Chinese cities will impact 2022’s economic growth as consumers and businesses experience rolling lockdowns, leading to a slowdown in domestic and international supply chains. China’s Zero-COVID policy is having a demonstrable impact on consumer-facing industries. Access GlobalData’s new whitepaper, China in 2022: the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry, to examine the current situation in Shanghai and other cities in China, to better understand the worst-affected industry sectors, foodservice in particular, and to explore potential growth opportunities as China recovers. The white paper covers:
  • Which multinational companies have been affected?
  • What is the effect of lockdowns on foodservice?
  • What is the effect of lockdowns on Chinese ports?
  • Spotlight on Shanghai: what is the situation there?
  • How have Chinese consumers reacted?
  • How might the Chinese government react?
  • What are the potential growth opportunities?
by GlobalData
Enter your details here to receive your free Whitepaper.

Related Report